Something occurred to me the other day with regards to the watch business. Much like the oil industry which continues to pump out millions of barrels of oil, despite the price falling, in order to fend off or weaken the burgeoning fracking industry, (it’s a lost cause, btw, but what other options are there?) the watch industry is doing much the same thing: pumping out large volumes of product at all different price levels trying to keep themselves desirable and relevant.
Left - Are luxury watches sinking for good?
The smartwatch was a catalyst, and while it hasn’t really dented the traditional watch market, it was already under threat from people using their phones to tell the time and the slightly old-fashioned, pompous and alienating approach many Swiss brands/makers have.
Global Blue’s latest data for the third quarter of 2016 show global spending on watches is down -32%. The UK aside, which is experiencing a blip due to the weakness of the pound, Global Blue’s latest year-to-date data shows that the W&J (Watches & Jewellery) category has been hardest hit by the global luxury spending slowdown.
The reasons they give are: Chinese are buying fewer watches due to the conspicuous consumption crackdown, higher import duties are a major deterrent, as is the dual effect of less attractive product and lack of price differentials. Plus the landscape is dramatically different now that global shoppers are deterred from visiting Europe due to the persistent perception of reduced safety and threat of terrorism.
Like all industries that experience rapid growth it will inevitably lose momentum and stall. They are trying to offer something special, but in volume, which is an oxymoron. They are also not very transparent at helping consumers know what they are buying and paying big bucks for.
They’ve opened huge flagships to showcase their brands in insulation, so as not to be contaminated by any others, but it’s not sustainable. Recently, Mike France, co-founder of internet watch retailer Christopher Ward, said, when talking about mono-brand watch stores, the “Regent Street model cannot be economically viable”. He said: “Ultimately they will die. Some of them will remain, but most of them will die. At the moment stores are flags for the brands; most of them lose a fortune.”
The volumes the industry are churning out are unsustainable too and has taken the 'luxury' halo off the industry. They are in a damned if they do and damned if they don’t situation.
Lots of consumers are turned off by the prices and are turning towards the ‘pre owned watches’ or 'second hand watches' market for something different or if they still want a status symbol-type brand at a price that they can afford and justify.
I’ve also heard branded/licensed watches in the mid-market are struggling and many brands and fashion companies which don’t specialise in this area are leaving the category all together.
Luxury watches are at a crossroads. Will we look back in a few years and find it funny that people used to wear lumps of mechanical metal on their wrists? Only time will tell.
TheChicGeek finishes his picks of the best of the AW16 collections with CMMN SWDN. (See all the season's others here).
It's all about the cropped suit with cargo details and a strong Chelsea boot. A new, relaxed way to wear coordinating pieces, team it with a simple knit. It's the suit of the season.
Credits - Full outfit CMMN SWDN
Shot by Robin Forster on Olympus PEN
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Traditional print publishers are having problems, we all know that. Seeing their traditional revenue streams shrink, and not replaced by the digital, has made many disappear or radically reduce their cost bases.
Left - Page from Carine Roitfeld's CRFashionBook by Bruce Weber
The future of publishers, and brands in general, is personality and while publishers have long had columnists and featured writers and contributors, it was all under the umbrella of a trusted masthead.
Hearst recently announced is will host Carine Roitfeld's CRFashionBook.com on its publishing platform, MediaOS, and oversee distribution and digital advertising. Business of Fashion reports that while all editorial content for both print and digital channels will continue to be produced by CR Fashion Book’s own editorial staff under editor-in-chief Roitfeld, Hearst will take on the task of monetising the title's digital and social media content and syndicate it across Hearst Magazines' digital portfolio.
Hearst has a similar agreement with Lenny, the newsletter launched by Lena Dunham and Jenni Konner in 2015: LennyLetter.com is hosted by MediaOS and Hearst has exclusive rights to monetise the content, which is also syndicated across its portfolio of sites.
Even if the content is produced by a team it is under the name of a personality. These personalities wouldn’t work for a traditional publisher or give as much of themselves if they did, so this is a good way for publishers to tap this market.
As a blogger, I could be called biased towards this type of publishing, but it’s the future. Anonymous posts without the confidence and voice of a single individual with experience and knowledge just don’t resonate. People want to know who they are listening to. Opinion formers with an opinion is the future and publishers are finally waking up to it.
Am I premature or too late, but does the closure of American Apparel signal the beginning of the end of the hipster?
Left - American Apparel is disappearing from British high-streets
This Terry Richardson-type wank fantasy of sports socks and short shorts, with a dash of the ethically made, didn’t quite make it. It had potential. It rode that early wave of ethical consumerism and sold items people need and use in volume. Basics.
It shoulda/coulda been a Gap for hipsters, but thought itself too cool for that and in the process shot themselves in the foot. If you didn’t wear gold meggings and a towelling headband you weren’t going to quite cut it in an average branch of American Apparel.
Right - Ironic? Were you cool enough to wear these?
You can aim for hipsters, but, ultimately, you want everybody, something that Uniqlo seems to have mastered. And, if you're charging a premium you need to remind consumers what the extra is for, in this case, it was made in the USA. Selling basics is a tough job, these days, as it is so price sensitive. Retailers, like Gap, are struggling to reinvent themselves in this post-hipster market. Maybe they should adopt the best bits of American Apparel and add some contemporary sex appeal to their image.
American Apparel was like one of those scowling cool kids who doesn’t say much, looks the part, but you realise, quite quickly, they have nothing to say.
Streetwear is all the rage and it seems as though everyone is trying to create their own clothing line these days. Even so, there are still plenty of streetwear designers that are making some of the most fashionable clothes this side of the catwalk and you'd be amiss not to take advantage of these exciting creators. Here are a few of the brands that you should be paying attention to if you're not already:
It felt as though this British skateboard label came out of nowhere in 2010 to quickly become one of the hottest streetwear brands on the market. Known as much for its irreverent sense of humour as it is for it incredible clothes, Palace has gone from a flash in the pan to a fashion mainstay. Palace will also be doing a new collaboration with Adidas this year, complete with fresh new shoes and a range of other apparel and accessories.
Supreme is one of the most iconic and respected skate brands out there and they continue to kill it today. The legendary box logo is a badge of honor and the company continues to put out incredibly fresh clothes year after year. It was recently revealed that the latest collaboration for Supreme would be with the legendary thrash-metal band Slayer in a collection that will include jackets, sweaters, shirts, and more based around some of the band's classic albums.
Stussy is another classic street brand that has managed to remain hip and relevant throughout the years. The brand was founded back in 1980 and it's hard to believe a 36-year-old label can stay as fashionable and with-the-times as Stussy is today. With a wide range of T-shirts, sweats, jackets, and more the name is one of the most recognised and beloved in street fashion and is a must-have for anyone trying to rock the style.
Mishka has been a hot name in the NYC underground fashion scene for some time now, but their irreverent riffs on pop culture combined with cutting edge street style has made them popular throughout the world as well. The streetwear company and record label was founded in 2003 and continues to be wildly popular in the hip-hop community with its eyeball logo keeping watch over New York's streets.
The 32-year-old Russian designer has taken the fashion world by storm, and if 2015 was when Gosha made a name for himself then 2016 is when he really took off. Rubchinskiy opened the Vetements SS16 show and shot this year's holiday campaign for Topman. His takes on classic American '90s street style is both ironic and original and the designer has established himself as one of the preeminent streewear stylists of today. Even better, Gosha's clothes are remarkably affordable for a label with such a high profile, thanks to his emphasis on being accessible to the youth trying to buy them.
To quote the supermarkets, the space race is over. Much like the frenetic expansion we saw in the food sector with supermarkets opening store after store in a saturated market, which didn’t increase sales and just cannibalised those they already had, the same could be said for social media.
We’ve seen a huge appetite for volume since its inception. Followers, subscribers, likes etc., brands and companies have spent lots of time, effort and money on growing their social following to as big as possible and, for many, continues to be the main focus of their attention. This isn’t sustainable.
Twitter has stalled in its growth of users at around the 300 million mark and Instagram, which just passed its 500 million users threshold, will no doubt start to slow or stall. There are only so many people in the world, after all.
This October, Condé Nast International’s chief digital officer, Wolfgang Blau, said, “You can’t win a race for reach,” at the Digiday Publishing Summit in Nice. He said that Vogue does not have to be gigantic to be very influential. For too long, too many were “drunk on reach” and forgot to focus instead on deeply understanding their readers.
This is a change in language and tactic from the one of the world's main digital publishers and a welcome one.
What is an 'acceptable' number of followers? Many people/brands look to others for this competitive and, sometimes not honest, number. It’s never enough.
The new age of social media will be healthy niches influencing people and rippling out into the wider population. Engagement will become key and producing content that is original, clever and contemporary will be the way to stand out. They'll be new ways to monitor engagement which don't require as much effort from the recipient.
What’s that inspirational quote about Jesus only having 12 followers? Okay, one did unfollow him! But, the space race is over and big isn’t always best.
Beirut based, IDEO Parfumeurs, takes inspiration from 1930s Morocco and Egypt with their new fragrance, Tarbouch Afandi. The name refers to a traditional gentleman's hat - the 'Tarbouch' - while 'Afandi' means both mandarin - a central note in the fragrance - but also the respectful 'Sir'!
Notes include green mandarin, pine, peppermint, honeyed tobacco and Lebanese cedarwood.
TheChicGeek says, ”I’d not heard of IDEO before, but if this is anything to go by then they are using the best ingredients in an interesting way. What makes this stand out is the animalic notes. Parfumeurs often stay clear of these musky and sexual ingredients as they can often have that primitive reaction of warning you off.
What hits you first is wet violet leaves which quickly dries to form a warm animalic scent. It's a bit like smelling a fresh fur coat, you can smell the fur and the heat from the body of the animal, but with a freshness. the mandarin, that stops it from being too much. This goes as far as many want to go with this fragrance family, but if you want more and you're a fan of a sweaty arse crack then you’ll probably love this - here
It is perfect for this time of year: it stays with you, but doesn't become annoying or dirty. The only thing I’m not crazy about is the packaging. It’s a bit generic for something as interesting as this.”
Left - IDEO Parfumeurs - Tarbouch Afandi - 100ml - £140 Exclusive to Liberty of London
The word of the season is 'oversized'. The bigger the better. It just means getting dressed just got easier: one item covers all, well nearly.
We've been a fan of this AW16 collection since we saw it at Pitti Uomo at the beginning of the year. Handmade in Hackney by knitwear designers Anna Wilkinson and Lindsay McKean, Cats Brothers is known for its quirky crochet and colourful knits. Putting the craft into fashion, their pieces are ingrained with humour and style and feel more art-piece than yet another fashion item with a creature or icon.
Credits - Red Monkey Jumper, Oversized Black & White Jumper, Tiger Bag - Cats Brothers, Tracksuit Bottoms - Lyle & Scott, Velvet Trainers - Russell & Bromley
Shot by Robin Forster on OlympusPEN
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TheChicGeek says ‘YAY!’ to Jaeger’s new home on Marylebone High Street. Situated on one of the smartest shopping streets in London, the new two-storey Jaeger store stocks the full menswear collection.
Jaeger asked TheChicGeek to pick his favourite pieces from the new store and their latest AW16 collection.
Right - A palette of navy, with highlights of orange, show Jaeger's expertise in knitwear and ease of dressing with a comfortable buttoned cardigan and large pocketed cargo trousers
TheChicGeek took to the streets of Marylebone to showcase his new look featuring a pair of Lou Dalton X Jaeger wool cargo trousers, a ginger coloured T-shirt (Obvs!) and soft wool cardigan.
It seems ginger and navy are the colours of the season as he bumped into his doppelgänger over at the Chiltern Firehouse! Twinning is most definitely winning.
Find out more here
Open now - 12 Marylebone High Street
Get involved #JaegerStyle
Left - Twinning is winning when TheChicGeek met the doorman at Marylebone local, Chiltern Firehouse
Below - TheChicGeek doing his best Gene Kelly impression - minus the rain - in new season Jaeger menswear
TheChicGeek is all about pink and green ATM. He's named it 'prawn cocktail & avocado', (you can see more here fresh from the catwalks of Milan) and it has a fun freshness that will see you right into the new year.
There is a lot of baby pink in menswear at the moment, thanks to Kanye and his Yeezy. Don't wear it in his Mad Max style, but team with primary colours, like here, such as blue and green.
Finish the look with quality accessories and plenty of peace & love!
Credits - Full look Paul Smith AW16
Shot by Robin Forster on Olympus PEN
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